The New England-based grocery store chain “Stop & Shop” is set to close some of its underperforming stores.
Ahold Delhaize, the grocers’ parent company, announced during a strategy meeting on May 23 it will close an undetermined number of stores.
CEO JJ Fleeman said the closures will help Stop & Shop create a more stable base and streamline operations as the chain plans to focus on its most important markets and stores that are performing well.
“Stop and Shop will make difficult decisions to close underperforming stores to create a healthy store base for the long term and grow the brand,” Fleeman said.
Fleeman says 190 Stop & Shop locations have been remodeled since 2018, which have begun outperforming their untouched stores.
“Stop & Shop continues to hold a strong market share position in the Northeast with our portfolio of nearly 400 stores. We’ve completed more than 190 remodels to date, which continue to perform well, and we’re committed to continuing to invest in our stores - as well in our prices - to deliver a great in-store experience and great values for our customers. Stop & Shop will make some difficult decisions to close select underperforming store locations to help ensure the long-term health and future growth for our business,” the grocery giant said in a statement.
The specific locations or the amount of Stop & Shop locations that will close was not made available.
There are 125 Stop & Shop locations in Massachusetts.
This is a developing story. Check back for updates as more information becomes available.
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